L&T, Vi, Coforge, United Breweries amid buzzing stocks as NIFTY, SENSEX pare gains in noon deals

The benchmark indices, SENSEX and NIFTY50, pared their gains and traded flat during the afternoon session on Wednesday, May 6, amid selling in energy and FMCG stocks.

Profit booking, along with FII outflow, among others, weighed on the market, as the indices were off their day’s high.

The markets had opened with substantial gains as global oil prices fell after US President Donald Trump announced a pause on 'Project Freedom,' in which the US Navy was escorting ships out of Iran amid the Strait of Hormuz closure.

The SENSEX had surged as much as 0.85% to an intraday high of 77,675.01 in the morning session, while the NIFTY50 had rallied as much as 0.91% to touch the day’s peak of 24,250.85.

At 12:45 PM, the S&P BSE SENSEX was trading 154.51 points, or 0.20% lower, at 76,863.28. NSE’s NIFTY50 stood at 24,014.15, reflecting an 18.65-point, or 0.08% decline.

On Tuesday, the foreign institutional investors (FIIs) sold stocks worth ₹3,621.58 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹2,602.62 crore on a net basis, according to exchange data.

Buzzing stocks on May 6: Check list

Shares of Coforge jumped as much as 10.86% to hit an intraday high of ₹1,295.80 per unit on the National Stock Exchange (NSE) on Wednesday, May 6, as it reported a multifold surge in consolidated net profit to ₹612.3 crore for January-March FY26, driven by a major one-time tax benefit and strong operational growth.

The company had posted a net profit (attributable to owners of the company) of ₹261.2 crore in the year-ago period.

Its revenue from operations grew 30% to ₹4,450.4 crore in Q4 FY26, from ₹3,422.2 crore logged a year ago.

The stock of Larsen & Toubro (L&T) fell as much as 3.81% to touch the session’s low of ₹3,900 per equity share on the NSE, after posting a 3% YoY decline in consolidated profit after tax to ₹5,326 crore in Q4 FY26, majorly due to a high-base effect from previous exceptional gains. The company had reported a consolidated post-tax profit of ₹5,497 crore in the year-ago period.

Its revenue from operations advanced 11.3% to ₹82,762 crore in the latest March quarter, compared to ₹74,392 crore in the year-ago period.

Along with its earnings, the company’s board has recommended a final dividend of ₹38 per share of face value ₹2 each for the financial year ended March 31, 2026, compared with ₹34 per share in the previous year. The dividend will be paid after shareholder approval at the ensuing Annual General Meeting, tentatively by June 10, 2026.

L&T has fixed May 22, 2026, as the record date to determine the eligibility of shareholders for the proposed final dividend.

Furthermore, its minerals & metals (M&M) business vertical secured its largest-ever order in the domestic metals sector, worth ₹10,000-15,000 crore, awarded by JSW Steel.

Shares of United Breweries hit their 52-week low, as the Middle East conflict weighed on its Q4 results.

While its consolidated profit grew 4.31% YoY to ₹101.78 crore in the March FY26 quarter, its revenue declined marginally.

The ongoing Middle East conflict has disproportionately impacted the Indian beer industry, including heightened supply chain disruptions, inflationary pressures, and reduced profitable export volumes, United Breweries stated in a regulatory filing.

The conflict has led to a significant increase in the costs of raw and packaging materials, transport, and other operating costs. Furthermore, the surge in costs, coupled with sustained competitive intensity, is expected to impact the ensuing quarters, the firm added.

United Breweries expects the cost impact to be in the range of ₹400-500 crore for the next two to three quarters.

The stock of Vodafone Idea gained over 5% to hit an intraday high of ₹11.38 apiece on May 6, as the company's board has approved the appointment of Kumar Mangalam Birla as its new non-executive chairman.

Kumar Mangalam Birla is the chairperson of the Aditya Birla Group.

Birla will replace Ravinder Takkar, who has stepped down from the position but will continue to assist him as non-executive vice-chairman, according to a regulatory filing.

Vodafone Idea said that the board of directors has "approved the appointment of Mr Kumar Mangalam Birla, a non-executive director, as the non-executive chairman of the board of directors of Vodafone Idea Limited with effect from 5th May 2026."

The board has also approved the appointment of Takkar as the non-executive vice chairman.

Hero MotoCorp shares surged as much as 3.3% to touch an intraday high of ₹5,281 apiece on Wednesday, May 6, before trading in the red, as investors cheered its March quarter earnings.

The auto major reported an increase of 29.6% in its standalone net profit at ₹1,401 crore for the quarter ended March 31, 2026 (Q4 FY26), as compared to ₹1,081 crore in the same quarter of the previous financial year.

The company’s revenue from operations climbed 29% to ₹12,780 crore in the reporting quarter, as against ₹9,939 crore in Q4 FY25.

Analysts at Citigroup said Hero MotoCorp reported Q4 EBITDA slightly ahead of estimates, while PAT was in line due to lower other income. They noted that demand has remained robust following GST cuts, with efforts to expand market share in scooters and EVs gradually gaining traction, while cost-reduction initiatives are supporting margins. However, they flagged a potentially inflationary macro environment and any adverse rural income trends as key risks.

The stock of Wockhardt rose for a fourth straight session. It has surged over 13% on Wednesday, May 6.

Wockhardt shares came under buying interest a couple of days ahead of its earnings announcement. The Mumbai-based drugmaker on Monday said that its standalone net profit in the January-March quarter jumped by a whopping 317% to ₹167 crore compared with ₹40 crore in the same period last year.

Its revenue from operations advanced 45% to ₹516 crore, and its operating profit, also known as earnings before interest, taxes, depreciation, and amortization (EBITDA), rose 52% to ₹161 crore.

KEC International shares rallied as much as 5% to an intraday high of ₹597.95 apiece on Wednesday, May 6, as the company secured new orders worth ₹1,002 crore.

The global infrastructure EPC major’s Transmission & Distribution (T&D) segment has bagged orders for projects across India and the Americas. The order includes ±500 kV HVDC transmission lines from a reputed private developer in Western India, 132 kV cabling works from a reputed steel producer in Eastern India, and the supply of towers, hardware, and poles in the Americas.

The renewable business has secured an order for a 100+ MW wind project in Southern India from a private developer.

The company’s transportation business has secured two orders in the technologically enabled Automatic Block Signalling (ABS) segment in Southern India.

The stock of Zydus Lifesciences advanced as much as 2.7% to touch the day’s peak of ₹937.75 per equity share, after the pharma company said a USFDA inspection ended at its Ahmedabad plant.

“We wish to inform you that the USFDA conducted a GMP surveillance inspection for the company’s Unit 9 facility located at Zydus Biotech Park, Changodar, Ahmedabad. The inspection was conducted from 27th April to 5th May 2026,” the company said in a regulatory filing.

The inspection was closed with seven observations. Zydus further said that there were no data integrity-related observations. “The Company will closely work with the USFDA to address the observations expeditiously,” it added.